On the heels of the Nashville Entrepreneur Center (EC) establishing year-round support for music-minded entrepreneurs, the Country Music Association (CMA) signs on for a second year as the title sponsor for the Project Music Accelerator. CMA is pairing its industry strength with the EC’s proven accelerator formula to open the doors for technology innovation in the music industry.
Music tech startups in social media, big data, content monetization, hardware, distribution, engagement, and others from around the globe will be invited to apply for the accelerator program. Applications open Sept. 1, 2015.
Six to eight applicants will be selected to participate in the three-month, high-intensity bootcamp at the Nashville Entrepreneur Center where their ideas will be infused with education, mentoring, practical application, work space, speakers, pitches, and special events related to traditional accelerator curriculum and immersion in the music industry. Each startup will be awarded a minimum of $30,000 investment to start their businesses in exchange for equity.
“We are thrilled to partner once again with CMA for the Project Music Accelerator,” declares EC CEO/President,Stuart McWhorter. “CMA has a strong leadership history in the music industry and we recognize the importance of the partnership to attract innovative entrepreneurs and industry experts to the program. This is a unique partnership and we are excited to get to work!”
“As the trade organization for Country Music we are focused on the strength and expansion of our industry and format,” states John Esposito, CMA Board President and President and CEO of Warner Music Nashville. “We at CMA are proud of our partnership on the inaugural year of Project Music and expect another bright class of startups to emerge from the 2016 class.”
“Building artists’ careers occupies most of the entertainment business executives’ time. It doesn’t allow much bandwidth to solve immediate and long term structural issues for the industry at large,” explains CMA Board Member and EC Master Mentor, Joe Galante. “Project Music helps tackle these issues by introducing new music-centric companies led by Entrepreneurs. Their passion to build solutions without being burdened by day to day legacy issues is important to changing the game.”
The 2015 Accelerator program launched eight new music-tech startups covering everything from audio quality to distribution that have collectively raised over $2 million in funding. “Project Music is exactly what our company needed,” states Michael Amburgey, CEO/KaraoQ. “Between opening doors, making introductions, and helping to foster a creatively disruptive environment, Project Music has been a community and family that we have all thrived in.”
Additional sponsors and investors will be announced soon. Details and sign up information are live on the program’s new website, www.projectmusic.co.
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